Posts from December, 2017

  • Reminder to Employers: Jan. 31 Filing Deadline Now Applies to All Wage Statements and Independent Contractor Forms The Protecting Americans from Tax Hikes (PATH) Act includes a requirement for employers to file their copies of Form W-2 and Form W-3 with the Social Security Administration by Jan. 31. The Jan. 31 deadline also applies to certain Forms 1099-MISC filed with IRS to report ... Continue Reading
  • The Saver’s Credit A special tax break can help people with qualifying incomes save for retirement. It’s called the Saver’s Credit and it could mean up to a 50 percent credit for the first $2,000 a taxpayer contributes to a retirement plan. Also known as the Retirement Savings Contributions ... Continue Reading
  • Year-End Charity Donations May Cut Tax Bills Those looking to maximize their tax savings before the end of the year may wish to consider charitable giving. Giving money or goods to a tax-exempt charity before Dec. 31 can usually be deducted on that year’s federal income tax return. Keep in mind the following: Only ... Continue Reading
  • 2018 Filing Season Start Date Not Yet Announced & Refund Timing The IRS has not yet announced a date that it will begin accepting individual tax returns for the 2018 tax filing season. The IRS anticipates it will not be at a point to announce a filing season start date until closer to the end of the year. Speculation on the Internet that ... Continue Reading
  • House and Senate Tax Bill Comparison Congress is currently debating the largest tax bill in the last 30 years. Both the House and Senate have passed their own versions of the bill. Differences must now be reconciled, with the final piece of legislation voted on by both chambers and signed by the President ... Continue Reading